Tax Return in Downtown Toronto

Our Comprehensive Tax Services

To illustrate the breadth of our expertise, here are the various services we offer:

Canadian Tax Returns

For our Canadian clients, we provide comprehensive services, such as:

• Personal Income Tax Preparation: Whether your return is straightforward or complex, we handle every detail meticulously, ensuring timely and accurate filing.
  
• GST/HST Filing: Our experts assist with Goods and Services Tax/Harmonized Sales Tax (GST/HST) filings, ensuring compliance and minimizing errors.
  
• Provincial Tax Compliance: We help you navigate the various tax regulations across Canada’s provinces, ensuring you remain compliant with all local requirements.

• Corporate Tax Return Preparation: Preparing and filing corporate income tax returns. Ensuring compliance with federal and provincial tax regulations.
  
• Deductions and Credits: Identifying eligible deductions and credits. Maximizing use of available tax incentives.
  
• Audit Support: Representing and supporting clients during tax audits. Preparing documentation and responses to CRA inquiries.
  
• Tax Compliance Reviews: Conducting regular reviews to ensure ongoing compliance. Identifying and rectifying any compliance issues promptly.

Non-Resident Tax Returns

If you are a non-resident with Canadian income, our specialized services include:

• Non-Resident Income Tax Returns: We ensure that your income is accurately reported and that you comply with Canadian tax laws.
  
• Tax Planning for Non-Residents: We provide strategic advice to optimize your tax situation, taking into account any international tax treaties and regulations.

Real Property and Investment Tax Returns

Owning real estate and investments comes with its own set of tax implications. Therefore, we offer:

• Real Property Tax Returns: We assist with the tax reporting and planning related to real estate investments and transactions.
  
• Investment Income Tax Returns: Our experts handle the complexities of reporting investment income, capital gains, and losses, ensuring accuracy and compliance.

Trust and Estate Tax Returns

Managing trusts and estates requires specialized knowledge. Consequently, we provide:

• Trust Tax Returns: We prepare tax returns for various types of trusts, ensuring compliance with all relevant regulations.
  
• Estate Tax Returns: We handle the tax filing requirements for estates, helping to manage and minimize tax liabilities during the estate settlement process.

U.S. Tax Returns

For clients with U.S. tax obligations, we offer a variety of services, including:

• U.S. Personal Income Tax Preparation: From simple to complex returns, we manage every detail meticulously to ensure compliance.
  
• FBAR and FATCA Compliance: We guide you through the Foreign Bank Account Reporting (FBAR) and the Foreign Account Tax Compliance Act (FATCA) requirements.
  
• Cross-Border Tax Planning: Living or working in both Canada and the U.S. presents unique challenges, which we help you navigate efficiently.
  
• IRS Audit Representation: In the event of an audit, our full representation protects your interests and simplifies the process.

What hours do we operate?

• Monday to Friday In-person 10 am to 4 pm
• Sunday to Saturday Remote 9 am to 9 pm
• Call to book an appointment T:(647) 951-4852 Ext.2
• Email: info@downtowntorontotaxreturnpreparation.com

***In-person Evenings and Weekends By Appointment Only based on availability From Mar 15 to Apr 30, Deposit required.

It’s very easy to get your personal taxes out of the way for 2024. We are reachable via phone, email, and in-person. Just use one of our methods of sending your tax documents to one of our tax advisors. Let us take care of the rest. You deserve your refund as soon as possible.

How to send my documents to a tax advisor?

• In Person
• Email
• Fax
• Canada Post/Courier

Where can I file my personal taxes?

Downtown Toronto Central Location (Yonge & Richmond)
151 Yonge St
11th Floor
Toronto ON M5C 2W7

Downtown Toronto North Location (Yonge & Bloor)
2 Bloor St W
Suite 700
Toronto ON M4W 3E2

Downtown Toronto East Location (Queen and Church)
111 Queen Street East
South Building
Suite 450
Toronto ON M5C 1S1

Downtown Toronto West Location (University and Dundas)
439 University Ave
5th Floor
Toronto ON M5G 1Y8

Downtown Toronto South Location (Bay St and Queens Quay)
88 Queens Quay West
RBC Water Park Place
Suite 2500
Toronto ON M5J 0B8

Downtown Toronto Return Preparation (King St and Spadina Ave)
500 King St W
Suite 300
Toronto ON M5V 1L9

Downtown Toronto Tax Return Preparation (Yonge and Dundas) – Eaton Centre
1 Dundas St W
Suite 2500
Toronto ON M5G 1Z3

Downtown Toronto Tax Return Preparation (Yonge and St Clair)
2 St. Clair Ave West
18th Floor
Toronto ON M4V 1L5

Downtown Toronto Tax Return Preparation (Yonge and Davisville)
1920 Yonge Street
Suite 200
Toronto ON M4S 3E2

What Types of Income Tax Returns can we complete?

We are specialized in tax return preparation. All we do is tax. The main categories of tax preparation include:

• Personal, Individual and Family Tax
• Corporate Tax
• Small Business Tax, Self Employed Tax
• US Tax
• Non-Resident Tax
• Student Tax
• Mock Tax Return Planning

What does it cost to file my personal taxes?

With our tax service, pay for what you need. Start with a base package and add what you need for your return to be prepared. If you do not see what you are looking for or are not too sure, please give us a call at 647-951-4852, press 2, and speak to an advisor. Please note Pricing listed below is for Personal Returns only and is only approximate estimates. Please call for pricing on all other types of returns. 

Tax Returns via Telephone and Email start at $99

Personal Tax Returns start at $129

US Tax Returns start at $299

Rental Income Tax Returns start at $199

Small Business Income Tax Returns start at $309

For a detailed price list

For a detailed services list

Do you need to use a tax return preparation service?

Everyone doesn’t need to use a professional tax preparation service. Of course, it saves time, a greater chance of accuracy and completion on time. If your needs are simple, it would not be wise to use our services. If you can complete your tax return on your own or with the assistance of a friend or family member and have confidence with it, we suggest you go with that.

Why using a professional personal tax return preparation advisor is beneficial (Tax Return in Downtown Toronto)?

• The complexity of your transaction that you have never dealt with before.

• Understanding the tax laws associated with your transaction. The internet provides a great deal of information but does it apply to your tax needs.

• Accuracy of applying tax legislation.

• Are you 100 percent sure you are right?  Completeness of your return?

• Are you aware of all deductions and credits you are entitled to?

• Planning and your tax situation.

• Are you utilizing available tax shelters for the future?

Tax planning is a subset of financial planning. Have you considered questions about your financial goals, retirement, and the impact of tax planning on them?

For the best personal tax return preparation, please contact us to book an appointment for the 2024 Tax Return Season.

Personal Tax Return Preparation Checklist – Tax Return in Downtown Toronto

Information you may need to bring for meeting with one of our tax advisors for personal tax return preparation – Tax Return in Downtown Toronto

• Last year’s tax return
• Last year’s Notice of Assessment (NOA)
• Changes to personal status – marriage, separation, birthdates, children birthdates, new address, telephone number, disabilities, death
• Amounts paid by tax installments

T-Slips – Tax Return in Downtown Toronto

• T4 Employment income
• T5 Interest or dividends
• T3 Mutual fund income
• T600 Canada Savings Bond interest
• T4OAS Old Age Security (age 65)
• T4A(P) Canada or Quebec Pension
• T4A Pension, retiring allowance, scholarships
• T4RIF Registered Retirement Income Fund
• T4RSP Withdrawal from an RRSP
• T5007 Workers compensation, social assistance
• T5013 Partnership income
• T4E Employment Insurance Benefits
• T4PS Profit-Sharing Plan

Deductions

• RRSP contribution slips
• Professional fees or union dues (if not on T4)
• Donations to Charities
• Medical expenses (drugs, dental, glasses, therapy, private health plan premiums)
• Summarize by family member and exclude any amounts reimbursed
• Child care information
• Tuition fees (post-secondary)
• Interest on money borrowed to earn investment income
• Safety deposit box (if you own investments)
• Investment management fees
• Labour sponsored tax credits
• Spousal or child support paid
• Political contribution receipts

Investments – Tax Return in Downtown Toronto

• Stocks – Capital gains summary report (from a broker) or transaction slips/detailMutual Funds – Annual statement showing gains/losses
• For all investments sold, switched, or exchanged during the year
• Real estate sales – agreement of purchase and sale (for both original purchase and sale)

Other

• Spousal or child support received
• Property tax or rent paid (if family net income < $40,000)
• Employment expenses (auto / supplies / home office)
• (form T2200 required – signed by employer)
• Moving expenses (T1M) if you moved 40 km closer to a new place of work
• RRSP Homebuyer information
• Details of any foreign income

Home Office – Tax Return in Downtown Toronto

• Electricity, heat, water, maintenance & repairs, insurance, mortgage interest, % use of home for business

Vehicle Expenses

• Fuel, insurance, license & registration, maintenance & repairs, parking, total km driven for business and personal

Rental Properties

• Details of owners/partners, gross revenue, advertising, interest, maintenance & repairs, office expenses, property taxes, travel costs, utilities

For Personal Tax advice please visit our related firm Toronto Tax Consulting